The Munich-based glass fiber expert Lipex Engineering GmbH has just announced their plan to build a new basalt fiber production plant in Russia, and on the Gukovo area in Rostov to be more specific. The new production plant is expected to be completed in about two years from now, and it will cost around 50 million euros for the firm. When it will enter full operation, it will employ 160 engineers, and it will produce 5 tons of basalt fiber composites.
This news comes only a couple of months after Lipex Engineering announced that they are expanding their production line to the Chinese market, with the target date for the completion of the expansion to be the first trimester of 2020. As it seems, the demand for basalt fiber is evergrowing, and Lipex needs to take decisive steps in order to meet it, and capture the lion’s share of a growing pie.
Compared to the fiberglass materials that acted as the rocketship for Lipex’s business so far, basalt fiber features many of its advantages but at the same time sports much better physicomechanical properties. When placed against carbon fiber, basalt fiber is a lot cheaper, so it is the vastly preferable choice when both materials are suitable. From camera tripods to fireproof textile used in cars or even aircraft, everyone wants a piece of basalt fiber, and Lipex Engineering is extending its operations in the field as they consider this to be a key area for their imminent growth. That said, we expect more similar announcements from Lipex in the near future, as the basalt fiber market shows no signs of getting saturated any time soon.